All Forum Posts by: Crystal Salton

Please if you have & don't mind, forward to me a copy of Cris Chico's Contract Package.............

Thanks in advance.

We are trying to find a way to buy a $550k-$600k house here in S. Florida (assume $417K conventional) with 10% down not the 20% down that is required for a jumbo, to avoid PMI doing an 80/10/10. My 10% isn't enough to get me there with $417K + $60K leaving about $60K as a 2nd. Help me structure this offer to the seller rate & terms included with a balloon in12-24 months.
-we have the income and DTI to cover
-credit scores 780 to 800
Thanks in advance for your suggestions!

Jason Cobb, Let me know if you come up with a solution..........Only thing I can think of is to ask the seller to hold a 2nd.

I was hoping to get more responses.

Medley & Associates

Tell Leonard Medley Crystal referred you, he's a personal friend of mine.

www.mkalaw.com

We are trying to find a way to buy a $550k-$600k house here in S. Florida (assume $417K conventional) with 10% down not the 20% down that is required for a jumbo, to avoid PMI doing an 80/10/10. My 10% isn't enough to get me there with $417K + $60K leaving about $60K as a 2nd. Help me structure this offer to the seller rate & terms included with a balloon in12-24 months.
-we have the income and DTI to cover
-credit scores 780 to 800
Thanks in advance for your suggestions!

Per a Florida title agent the hoa by laws get recorded with the plat, ahead of all mortgages, therefore they (if they have to file) have the real 1st lien position. Mortgages are in first unless the hoa files, then they are 2nd to any hoa in Florida.

Per my Florida Title Company if the Hoa recorded first and if they auctioned a minute ahead of the lender, "NAMED" the lender in their actions, they wipe out the lender and any subordinate liens... I learned the Mortgage Company was never "NAMED" in the action

Mortgages are in first unless the hoa files (and names the lender in the action), then they are 2nd to any hoa in Florida....

Ramone Daniels

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I spoke with a woman yesterday, S. FLORIDA (Palm Beach County) she bought a Condo HOA Lien at auction for $10.5K on Aug 13th 2015, the Certificate of Title in her name was recorded on Sept 3rd 2015, she gets a call from a man in Oct 2015 stating he bought at the same auction the mortgage lien on Oct 8th 2015 for $100K however a title has not been processed to date in his or his organizations name, he's threating to evict her or offering to her to buy his interest for $120K........

My questions is who actually holds the senior lien? What are her options? she is not an investor and plans to live in the condo. Can he foreclose on her or vice versa?

What are the pros & cons of the 2 systems?